SIDBI to complete rating of 720 SMEs
The Small Industries Development Bank of India(SIDBI) would complete the rating of 720 Small and Medium Enterprises before the end of 2007, a top official of the bank said.
By PTI |
MADURAI: The Small Industries Development Bank of India(SIDBI) would complete the rating of 720 Small and Medium Enterprises before the end of 2007, a top official of the bank said.
The process is being undertaken by Small and Medium Enterprises Rating Agency, SIDBI Chairman R M Malla said.
Talking to reporters here last night he said SMERA, formed in collaboration with a few banks, was becoming a popular rating agency and as their charges were cheap compared to international agencies.
Apart from individual SMEs, SMERA has rated five clusters, including engineering units in Jamshedpur, steel furniture units in Nasik, rubber products units in Kochi, Bindi Engineering cluster and Ahemedabad pharma units.
Besides, it was in the process of rating eight other clusters, including four automobile ancillary unit clusters and textile clusters.
Over 1000 applications for rating were being processed by SMERA, he said. By 2008, SMERA would rate 3000 SMEs.
Tamil Nadu stood top with its 140 companies rated so far.
Malla told the media that the company had signed MoU with 21 banking and finance institutions and they would offer the concession in rates of interest while lending.
The process is being undertaken by Small and Medium Enterprises Rating Agency, SIDBI Chairman R M Malla said.
Talking to reporters here last night he said SMERA, formed in collaboration with a few banks, was becoming a popular rating agency and as their charges were cheap compared to international agencies.
Apart from individual SMEs, SMERA has rated five clusters, including engineering units in Jamshedpur, steel furniture units in Nasik, rubber products units in Kochi, Bindi Engineering cluster and Ahemedabad pharma units.
Besides, it was in the process of rating eight other clusters, including four automobile ancillary unit clusters and textile clusters.
Over 1000 applications for rating were being processed by SMERA, he said. By 2008, SMERA would rate 3000 SMEs.
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Tamil Nadu stood top with its 140 companies rated so far.
Malla told the media that the company had signed MoU with 21 banking and finance institutions and they would offer the concession in rates of interest while lending.
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